All Forum Posts by: Scott Terrell

Thanks for the responses! Networking is something I really need to prioritize. Do you have any information on REI groups in NWA?

My name is Scott Terrell and I'm new to the world of real estate investing. My interest in real estate began, like most people, after reading "Rich Dad Poor Dad." Sense then I've been trying to read as many books as I can. I'm trying to soak up as much info as possible. I'm drawn to buying rental properties. Im wanting to make my first deal by The end of June. I'm having a little trouble find what seems to me to be "great deals." My vision is to purchase the first property and use the equity to make a down payment for the next. (Brrr) I'm a complete newb and can use all the advice, networking, and inspiration anyone is kind enough to offer.

I'm currently looking to invest in my first property. I've been focusing mostly on single family homes to buy and hold. However, I recently found the following listing on a condo.

Two bed two bath condo built in 1984. Located in a college town and 1 mile from the university. Seems to be in great shape (haven't physically looked at the property yet.) List price is $95,900. Estimated rent is between $950 and $1050. HOA fees are $112/month. The fee include waste, sewer, exterior maintenance, lawn, and exterior insurance. My calculations suggest I should get cash flow around $150. However, condos kind of scare me. I fear they will not appreciate like a stand alone house.

Any words of wisdom?